Do you have an investment property for rent but are unable to secure a quality tenant? Investment properties are excellent long term vehicles for capital appreciation, but certainly require a hands-on approach when it comes to securing tenants. Follow these recommendations from the real estate professionals and you’ll be on your way to securing a tenant in short order.
Take advantage of the awesome deals offered by Groupon and invest in a Samsung tablet for keeping track of prospective tenants, creating marketing flyers and keeping records of your investment property expenses. Plan to properly prepare your rental for quality tenants. The exterior of the property should have no deferred maintenance and the landscaping should be freshly trimmed and cut. Select new house numbers, lighting and mailbox to ramp up the curb appeal. Many prospective tenants make a judgement on the interior based on the exterior condition. A fresh planter of seasonal flowers should welcome prospective tenants.
On the interior, have every floor covering cleaned and polished. Apply fresh paint to all the rooms included baths and kitchen. Special care should be given to cleaning the interior. Ensure that all appliances have been serviced. This includes the heating and air conditioning systems. Windows and baseboards should be thoroughly cleaned. Air the home out and place charcoal around to absorb any unpleasant odors.
Plan to take multiple photos of the interior and exterior after the rental preparation is complete. Prepare a specifications flyer outlining the amenities of the property, room count and special features. Research the zoning for the school district. Include the photos in the flyer. The more information included on the spec sheet, the more apt you are to attract quality tenants.
Finally, have multiple copies of the lease as well as applications for prospective tenants to complete. When receiving an inquiry about the unit from a prospective tenant, respond with top priority. Tenants are in the position to make decisions very quickly. This will also be a reflection of how quickly they can anticipate your response once they become tenants and have questions or maintenance issues. Best of luck with securing a tenant for your investment property.